Problems on Compound Interest Part 2

Directions to Solve
Each of the questions given below consists of a statement and / or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is / are sufficient to answer the given question. Read the both statements and
  • Give answer (A) if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question.
  • Give answer (B) if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question.
  • Give answer (C) if the data either in Statement I or in Statement II alone are sufficient to answer the question.
  • Give answer (D) if the data even in both Statements I and II together are not sufficient to answer the question.
  • Give answer(E) if the data in both Statements I and II together are necessary to answer the question.
1. 
What is the rate of compound interest?
I. 
The principal was invested for 4 years.
 II. 
The earned interest was Rs. 1491.
A.I alone sufficient while II alone not sufficient to answer
B.II alone sufficient while I alone not sufficient to answer
C.Either I or II alone sufficient to answer
D.Both I and II are not sufficient to answer
E.Both I and II are necessary to answer
Answer: Option D
2. 
What will be compounded amount?
I. 
Rs. 200 was borrowed for 192 months at 6% compounded annually.
 II. 
Rs. 200 was borrowed for 16 years at 6%.
A.I alone sufficient while II alone not sufficient to answer
B.II alone sufficient while I alone not sufficient to answer
C.Either I or II alone sufficient to answer
D.Both I and II are not sufficient to answer
E.Both I and II are necessary to answer
Answer: Option C
3. 
An amount of money was lent for 3 years. What will be the difference between the simple and the compound interest earned on it at the same rate?
I. 
The rate of interest was 8 p.c.p.a.
 II. 
The total amount of simple interest was Rs. 1200.
A.I alone sufficient while II alone not sufficient to answer
B.II alone sufficient while I alone not sufficient to answer
C.Either I or II alone sufficient to answer
D.Both I and II are not sufficient to answer
E.Both I and II are necessary to answer
Answer: Option E

Directions to Solve
Each of the questions given below consists of a question followed by three statements. You have to study the question and the statements and decide which of the statement(s) is/are necessary to answer the question.
1. 
What is the rate of interest p.c.p.a.?
I. 
An amount doubles itself in 5 years on simple interest.
II. 
Difference between the compound interest and the simple interest earned on a certain amount in 2 years is Rs. 400.
 III. 
Simple interest earned per annum is Rs. 2000.
A.I only
B.II and III only
C.All I, II and III
D.Any two of the three
E.I only or II and III only
Answer: Option E
2. 
What will be the compound interest earned on an amount of Rs. 5000 in 2 years?
I. 
The simple interest on the same amount at the same rate of interest in 5 years is Rs. 2000.
II. 
The compound interest and the simple interest earned in one year is the same.
 III. 
The amount becomed more than double on compound interest in 10 years.
A.I only
B.I and II only
C.II and III only
D.I and III only
E.None of these
Answer: Option A

Directions to Solve
In each of the following questions, a question is asked and is followed by three statements. While answering the question, you may or may not require the data provided in all the statements. You have to read the question and the three statements and then decide whether the question can be answered with any one or two of the statements or all the three statements are required to answer the question. The answer number bearing the statements, which can be dispensed with, if any, while answering the question is your answer.
1. 
Mr. Gupta borrowed a sum of money on compound interest. What will be the amount to be repaid if he is repaying the entire amount at the end of 2 years?
I. 
The rate of interest is 5 p.c.p.a.
II. 
Simple interest fetched on the same amount in one year is Rs. 600.
 III. 
The amount borrowed is 10 times the simple interest in 2 years.
A.I only
B.III only
C.I or II only
D.II and Either I or III only
E.All I, II and III are required
Answer: Option D
2. 
What is the compound interest earned at the end of 3 years?
I. 
Simple interest earned on that amount at the same rate and for the same period is Rs. 4500.
II. 
The rate of interest is 10 p.c.p.a.
 III. 
Compound interest for 3 years is more than the simple interest for that period by Rs. 465.
A.I and II only
B.II and III only
C.I and III only
D.Either II or III only
E.Any two of the three
Answer: Option D

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